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Chinese economy spikes by 5.3% in first quarter UPSC releases results of Civil Services 2023; Aditya Srivastava tops the list India’s exports marginally dips into minus in March month Diversion of goods imported under Advance Licence to Open Market: Mens rea upheld Seasonal rainfall likely to be 106 % of Long Period Average: IMD Workshop held for Eco-friendly Measures for Holistic National Highway Development I-T- Mere existence of power to assess or reassess six AYs' immediately preceding AY corresponding to year of search or 'relevant assessment year' would not justify invocation of Section 153C - HC What was Biden’s income in 2023? - ITR shows USD 6.2 lakh I-T - Act & Rules thereto provide a method for service of notices & orders; communication of notices before any action is taken, is mandatory: HC Mumbai Police nabs two shooters involved at random firing at Salman’s house I-T- Assessee cannot be expected to be logged in to I-T portal at all times, so as to be notified of actions taken by Department: HC IRS fears spurt in crypto tax evasion cases I-T - Expenses written off is only allowable if assessee offers said amount as income in previous years: HC Breast cancer to kill over 10 lakh women by 2040: Lancet Report I-T- Deduction u/s 35(1)(ii) in respect of donation made to scientific research institute, is rightly denied, where no evidence is furnished to show valid approval was taken from prescribed authority for taking donation: ITAT China’s bubble tea stirs global buzz I-T- Penalty imposed u/s 271(1)(c) merits being quashed where exact charge between concealment of facts and furnishing inaccurate particulars of income, are not specified : ITAT Samsung gets USD 6.4 bn in subsidy for Texas chip production I-T- Penalty is unwarranted where the complete factual data pertaining to Assessee's claim was also available before AO during the course of assessment : ITAT India to resume FTA talks with EU next month I-T- Assessee has not involved in manipulation of stock prices for purpose of earning bogus LTCG : ITAT PM says he has big plans for country TCS to hire 25K freshers in 2025 GST - Retrospective cancellation of registration - Complete non-application of mind - Order refers to a reply filed whereas fact is that the proprietor had passed away and no reply had been filed: HC Election Commission seizes over Rs 4600 Cr cash - highest for LS polls GST - Proper officer has not applied his mind but dismissed the reply submitted as not satisfactory - Order set aside and matter remitted: HC IMD says it is likely to be above-normal Monsoon for India Protesters demanding restoration of monarchy and Hindu State lathicharged in Kathmandu


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Chennai, January 04, 2018 I-T - When CBDT itself has not accepted audit objection, verbatim reproduction of same does not constitute valid ground for AO to resort to re-assessment: HC

Mumbai, January 04, 2018 ST - Beautification and landscaping of Panaji Municipal garden - instead of 'Maintenance & Repair Service', service is appropriately classifiable under CICS - since service is provided to local government body, it cannot be said to be of commercial nature: CESTAT

Mumbai, January 04, 2018 CX - CVD paid by debit in DEPB passbook - CENVAT - Commr (A) passing order beyond scope of Revenue appeal, hence unsustainable: CESTAT

Mumbai, January 03, 2018 Cus - EXIM Policy restricted import of ATMs, ATMPs & Modems to actual users qualified to be issued with special licence - imports without such a licence entails liability to confiscation of goods u/s 111 & penalties u/s 112 of CA, 1962: CESTAT

Ernakulam, January 03, 2018 I-T - When charitable body is found to have spent more on administrative charges than charitiable activities and largely made use of only Govt subsidy and not income derived over years, Revenue is right in denying registration u/s 12A: HC

Mumbai, January 03, 2018 CX - Upgrade units though helps in enhancing capacity of computer but unit itself is not complete machine, therefore, it cannot fall under chapter 8471: CESTAT

Allahabad, January 02, 2018 ST - Once provisions of s.67 have been complied with, applicability of Rule 2A of Valuation Rules, 2006 does not arise - no question of forcibly applying option of Composition Scheme: CESTAT

New Delhi, January 02, 2018 I-T - Mere alteration in their MoA which did not alter basic purpose of providing medical relief, is no ground to deny exemption to hospitals: ITAT

Mumbai, January 02, 2018 CX - Word 'may' in Clause 2(b) of notf. 5/2006-CX(NT) is by way of giving an option - it does not put any embargo debarring assessee for making a quarterly/half - yearly/annually refund claim: CESTAT

Kolkata, January 01, 2018 I-T - Credit Card expenditure incurred by assessee on behalf of employer company, included in FBT return filed by company, cannot be taxed in hand of assessee as perquisite: ITAT

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April 16, 2024

TP - Not adopting mandatorily prescribed methods to determine ALP in respect of fees of technical services payable by Assessee to its AE, make entire Transfer pricing Agreement unsustainable: ITAT

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